iMerit Accounts & Finance Executive Interview Questions and Answers

Capital market types refer to the different categories of financial markets where securities are bought and sold.

• Primary market - where new securities are issued for the first time, such as IPOs

• Secondary market - where existing securities are bought and sold among investors, such as stock exchanges

• Money market - deals with short-term debt securities, such as Treasury bills

• Bond market - where long-term debt securities a...read more

Financial statements are formal records of the financial activities and position of a business, person, or other entity.

• Financial statements include the balance sheet, income statement, and cash flow statement.

• They provide information on the financial health and performance of a company.

• Balance sheet shows assets, liabilities, and equity at a specific point in time.

• Income statement shows revenues, expenses, and profits...read more

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help maintain the balance in the accounting equation: Assets = Liabilities + Equity.

• For example, when a company receives cash f...read more

TDS rates applicable in VVDN vary based on the type of payment and the recipient's status.

• TDS rate for salary payments is different from TDS rate for contractor payments.

• TDS rates for resident individuals are different from non-resident individuals.

• TDS rates for domestic companies are different from foreign companies.

• For example, TDS rate for salary payments to resident individuals may be 10%, while TDS rate for contra

In 5 years, I see myself as a senior financial analyst leading a team and contributing to the strategic decision-making process of the company.

• Leading a team of financial analysts

• Contributing to strategic decision-making

• Continuing professional development and certifications

• Possibly pursuing an MBA for further career advancement

My family background is diverse and includes a mix of professions and cultural backgrounds.

• My family members come from various professional backgrounds such as engineering, teaching, and business.

• We have a mix of cultural backgrounds including Indian, American, and European.

• Family values of hard work, education, and respect for others are important to us.

Revenue recognition principle dictates when revenue should be recognized in financial statements.

• Revenue should be recognized when it is earned, realized or realizable, and can be measured reliably.

• It is important to match revenues with the expenses incurred to generate them.

• Examples include recognizing revenue from the sale of goods when the risks and rewards of ownership have transferred to the buyer.

• Another example ...read more

Experienced finance executive with a strong background in financial analysis and strategic planning.

• Over 10 years of experience in finance roles

• Expertise in financial modeling and forecasting

• Proven track record of improving profitability and efficiency

• Strong leadership and communication skills

• Previously worked at XYZ Corporation as a Finance Manager

I have a strong skill set in financial analysis, budgeting, forecasting, and strategic planning.

• Financial analysis

• Budgeting

• Forecasting

• Strategic planning

Taxes are mandatory financial charges imposed on individuals or businesses by the government to fund public services and projects.

• Types of taxes include income tax, sales tax, property tax, and corporate tax.

• Income tax is levied on the income of individuals and businesses.

• Sales tax is imposed on the sale of goods and services.

• Property tax is based on the value of real estate owned by individuals or businesses.

• Corporate...read more